10 Mobile Applications You Can Use to Invest in the Stock Market in Canada

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The stock market has never been so accessible. With our smartphones, we have the ability to buy or sell stocks at any time or invest in products designed for those who don’t want to complicate their lives. No matter your level of expertise or how much you want to invest, there is a perfect app for you!

However, not all Canadian online brokers and robo-advisors have launched a mobile app. Some companies simply ignore their customers who want to invest using their mobile phones, while others have decided to adapt their websites to these devices, without launching a dedicated mobile application. Here are 10 mobile applications offered by online brokers and robo-advisors that let you invest in the stock market from the palm of your hand.

 

Wealthsimple Trade

Wealthsimple Trade is an online brokerage service that allows you to buy and sell stocks or ETFs on the Canadian stock exchange without paying any fees. The online broker does, however, charge currency conversion fees on trades made in US stocks and ETFs, which makes investing in the US via this platform much less attractive. On the other hand, it is an ideal application for a beginner interested in investing in Canadian stocks, since trading is free and there is no minimum amount required to start investing. This mobile application also lets you  monitor the price of your shares as well as trade them at any time.

How much does it cost?

This app does not charge any fees to trade Canadian stocks. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 4.6/5

Google Play: 4.5/5

 

Wealthsimple Invest

Wealthsimple Invest is a mobile application for Canadian robo-advisor Wealthsimple. With it, you can invest in low-cost portfolios designed for different risk profiles. You can set up an automatic deposit so that you automatically invest part of your income. Another option allows you to opt into a program that rounds up your purchases to the nearest dollar, similar to that offered by the Moka application. With Wealthsimple Invest, you can also choose a portfolio of socially responsible investments, investing in order to build a better world, or a halal portfolio which is a portfolio in accordance with Islamic law.

How much does it cost?

Expect to pay 0.5% of Assets Under Management (AUM) each year for anything less than $100,000, and that’s without taking into account the management expense ratio of ETFs held in portfolios. For more details on fees, see our robo-advisor comparison tool.

Number of stars

App Store: 4.3/5

Google Play: 3.6/5

 

Moka

Moka, formerly known as Mylo and now a part of the MOGO family, is a mobile application that helps its users achieve their financial goals, save more, and invest in diverse portfolios. Simply download the app and connect your bank account.  The app offers a rounds-up feature that rounds your debit and credit card purchases to the nearest dollar. The money saved is then invested in a diversified portfolio, making Moka an alternative to robo-advisers like Wealthsimple, but geared for a younger audience.

How much does it cost?

The monthly price to get access to all of Moka’s features is $3, without taking into account the management expense ratio of the funds held within the portfolios.

Number of stars

App Store: 4.4/5

Google Play: 4/5

 

IBKR Mobile

IBKR mobile is the mobile application of the Interactive Brokers online brokerage. The application allows you to buy and sell stocks, ETFs and other financial instruments. Since Interactive Brokers has operations in many countries, including Canada, this app gives you access to 135 stock markets in 33 countries and in 23 different currencies.

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How much does it cost?

The transaction fee is 1 cent per share, with a minimum of $1 per trade. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 4.5/5

Google Play: 4.7/5

 

CIBC Mobile Wealth

The CIBC Mobile Wealth Management mobile application is the mobile application associated with the CIBC Investor’s Edge online brokerage. CIBC Investor’s Edge and CIBC Imperial Investor Service clients can use the app to buy or sell stocks, ETFs or other financial securities. CIBC Wood Gundy and CIBC Private Wealth Management clients can use the app to monitor their investment portfolio, but not to trade.

How much does it cost?

The fee is $ 6.95 per trade. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 3.6/5

Google Play: 3.8/5

 

CI Direct Investing

CI Direct Investing, formerly known as WealthBar, is the robo-advisor’s mobile application of the same name. Like the Wealthsimple app, this app lets you invest in a diversified portfolio of ETFs tailored to your risk profile.

How much does it cost?

Expect to pay 0.65% of Assets Under Management (AUM) each year for anything less than $150,000, and that’s without considering the management expense ratio of ETFs held in portfolios. For more details on fees, see our robo-advisor comparison tool.

Number of stars

App Store: 4.6/5

Google Play: 4.5/5

 

Qtrade Investor

Qtrade Investor is the mobile application of the online broker of the same name. Owned by Aviso Wealth, the Qtrade platform has replaced that of Credential Direct since the merger of Qtrade, Credential Financial and NEI Investments in 2018.

Like other brokerage applications, this one enables you to buy and sell stocks, ETFs and other financial instruments. Qtrade Investor also provides an overview of your portfolio to help you make better investment decisions.

How much does it cost?

The fee is $8.75 per trade. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 2.1/5

Google Play: 1,8/5

 

BMO Invest

BMO Invest is the mobile application of BMO InvestorLine, the online broker owned by BMO. Like other brokerage apps, it allows you to buy and sell stocks, ETFs and other financial instruments. You can also monitor stock market indexes and receive personalized stock market alerts. The application also provides you with search and analysis tools for securities.

How much does it cost?

The fee is $9.95 per trade. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 4.4/5

Google Play: 4.5/5

 

QuestMobile

QuestMobile is the mobile application of Questrade, which is the largest independent online brokerage in Canada. Like other brokerage apps, this app allows you to buy and sell stocks, ETFs and other financial instruments. The application also enables you to search by security, access your trade history and make deposits into or withdrawals from your Questrade account.

How much does it cost?

The fee is $4.95 per trade. For more details on fees, see our online broker comparison tool.

Number of stars

App Store: 3.5/5

Google Play: 2.4/5

 

TD Easy Trade

TD Easy Trade, formerly TD Goal Assist, is a mobile application launched by TD Direct Investing in 2020. It is a mobile, streamlined version with less functionality than the TD Direct Investing WebBroker platform. The mobile app helps to link investments to financial goals to make investing easier than ever. The app allows you to buy and sell stocks and ETFs at the same price as you can with a TD Direct Investing account, with one exception: There are no transaction fees when buying and selling ETFs belonging to the TD family of funds.

How much does it cost?

While the first 50 trades of the year are free, each additional trade will cost you $9.99. 

Number of stars

App Store: 4.1/5

Google Play: 4.1/5